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28 May 2012

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Vienna's conwert makes takeover bid for associate ECO

Vienna's listed residential property group conwert Immobilien has today announced a takeover bid for associated company ECO Business-Immobilien at a price of e6.50 per share in cash, a premium of 16.5% on the closing price yesterday. conwert currently holds 24.9% so that the bid volume, if fully accepted, amounts to e167m. (See upcoming PIE Editions for full story)

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